Industrial & Manufacturing Blog
If you run a small construction or landscaping business, then you know just how important it is to make every dollar count. But sometimes, when you bid out a job, it can be hard to account for every expense beforehand; like equipment rental. Although it may be tempting to buy your own skid steer or crane, renting a crane from a crane services company may be the better choice. Here's why.
Less Cost Up Front
Buying heavy machinery like a crane is going to cost you a lot of money up front. In fact, cranes can cost several hundred thousand dollars in some instances which is a cost that may be more detrimental later on down the line; the last thing you want is for a crane purchase to make your company financially upside down and have to file bankruptcy. Depending on the size of the project(s) you have, it's probably better to just rent it.
You May Only Need It a Few Times
Even if you get one or two jobs that involve heavy machinery like a crane, you never know for sure if you're going to need it for a job again in the near future. So, if you were to buy a crane, rather than rent one but you rarely have jobs that require one, your crane will just sit in your garage or driveway collecting dust.
Upkeep
When you get caught up in the moment and get excited about making a big purchase like a skid steer, dump truck, or crane, you probably don't think about things like the upkeep and maintenance costs involved in it. So, not only will you have to pay your monthly loan payment for your heavy machinery, but you will also have to pay for it if it breaks down or just needs a tune-up. With a rental, you never have to worry about having to maintain it; the company just takes care of everything for you.
If you own a small landscaping or construction business, it may be tempting to invest in large machinery so that you don't have to rent it all the time. However, it probably doesn't make financial sense in the long term. To help make an educated decision, make sure to contact a financial advisor that can help assess what the best decisions for you are. If you want to learn more about crane rental and other heavy machinery, contact a crane services company near you.
For more information, contact a company like Prestige Dock Service.
Share8 June 2018
After I inherited my parents manufacturing business, I realized that there were a few challenges that they hadn't addressed earlier on in their careers. For starters, the company was missing several safety protocols that I knew could help to fend off injuries and accidents. I started focusing on bringing things up to modern code, but it didn't come without its share of challenges. I wanted to make this blog to help people to know how to identify and resolve challenges that could cause problems in the long run. Read more about this topic on this blog filled with great content about manufacturing.